. >> great to be here, melissa. melissa: time for today's energy report when we break down the biggest headlines affecting the industry and their impact on the economy. in last night's debate mitt romney said ending the oil industry tax breaks would be on the table if the corporate tax rate is lowered but the american petroleum institute says ending those deductions would hit small production companies especially hard, raise costs, and reduce production. in other words, bad idea, they say. in a letter to the governor of alaska a trio of energy companies are moving forward to build a natural gas pipeline that would export liquified natural gas from asia to a -- from alaska to asia. conoco-phillips, tran canada joined forces with the project. it will cost $65 billion but might not be ready for 10 years. in a nod to the booming energy industry, booming shale and gas production will give u.s. rerefineries advantages over others around the world. fracking in unconventional shale will push refiners into higher utilization rates. the challenge? getting fuel from the field toe the refineries.